I never worked for Etrade, but as everyone prolly knows by now, I traded for Merrill LPF&S, and one one top online, which could be Chuck, TDA, Fidelity, or Turd.
I hate turd, and the way they are executing you is a pattern. It is not an algo. It is a pattern I know all to well. You will never get a good execution from them. From either side.
What they will do is execute the minimum without backing away, then they will work the order.
I would never trade that way, I would never show your cards and then work your order, everyone else can back away outside your first trade. In my opinion, you are correct, it is a scheme, and I never liked it.
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